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Post by jeffolie on Aug 18, 2011 9:18:21 GMT -6
Ben, the FED important statement Aug 26th (in Ben's speech in Jackson Hole)... QE3 or some type of commitment that supports banks including European banks ... could be line of credit to ECB to buy bonds as in 'swaps' of $Trillion
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Post by unlawflcombatnt on Aug 18, 2011 11:29:10 GMT -6
Ben, the FED important statement Aug 26th (in Ben's speech in Jackson Hole)... QE3 or some type of commitment that supports banks including European banks ... could be line of credit to ECB to buy bonds as in 'swaps' of $TrillionI still don't know why this isn't illegal. Oh, yeah. Thtat's right. I forgot. The Fed is Private. (At least that's what they claim.) They can do anything they want, since it's their own money--(Not!)
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Post by mdub on Aug 19, 2011 2:42:14 GMT -6
I think people are starting to wake up to what the Fed really is. Consider how popular Ron Paul is and how other Republican candidates are mimicking him in criticizing the Fed.
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Post by jeffolie on Aug 20, 2011 15:54:53 GMT -6
I expect Ben to at least introduce something to give hope to the banks... "....Basal II includes using Rating Agencies to determine what level of security a bank asset gets. Phony or obviously wrong level of security in Basal II includes in Tier I assets the debt of soveriegns so that banks did not set aside reserves for bad bonds of Ireland, Portugal, Greece, etc. European banks now appear troubled with obviously less valuable soveriegn bonds without reserves. Short selling was banned a week ago in selective European banks with another week left on the some of the bans. ... The American banks have some exposure to badly rated bonds. The Philadelphia Banking index has collapsed. stockcharts.com/h-sc/ui?s=$BKX&p=D&b=1&g=0&id=p32331465551====================== "... The most anticipated event this coming week is Fed Chairman Bernanke's speech at Jackson Hole on Friday....' ----- Friday, Aug 26th ----- 8:30 AM: Q2 GDP (second estimate). This is the second estimate for Q2 GDP from the BEA. This graph shows the quarterly GDP growth (at an annual rate) for the last 30 years. The first estimate was for 1.3% annualized growth in Q2. The consensus is for a downward revision to 1.1% annualized real GDP growth. 9:55 AM: Reuters/University of Mich Consumer Sentiment final for August. The consensus is for a slight increase to 56.0 from the preliminary August reading of 54.9. 10:00 AM: Fed Chairman Ben Bernanke speaks at the Federal Reserve Bank of Kansas City Economic Symposium, Jackson Hole, Wyoming, "Near- and Long-Term Prospects for the U.S. Economy" www.calculatedriskblog.com/
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Post by unlawflcombatnt on Aug 20, 2011 23:47:38 GMT -6
I think people are starting to wake up to what the Fed really is. Consider how popular Ron Paul is and how other Republican candidates are mimicking him in criticizing the Fed. This is one of the benefits of running as a 3rd party candidate, or even a primary candidate who is considered not likely to win--you can force the other candidates to take on your own positions, and actually change their policy course. Perry would appear to be doing just that--absorbing Ron Paul's position to get some of his backers to switch to him. This is exactly what Dems and Independents should be doing with Obama--running on positions contrary to his current policy, but consistent with core populist and mainstream American views. If Obama had to face a 3rd party challenger who might get enough of his votes to cost him the election--say by advocating Tariffs and stopping illegal immigration--he may well change his views.
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Post by unlawflcombatnt on Aug 21, 2011 0:01:04 GMT -6
I expect Ben to at least introduce something to give hope to the banks... 8:30 AM: Q2 GDP (second estimate). This is the second estimate for Q2 GDP from the BEA. This graph shows the quarterly GDP growth (at an annual rate) for the last 30 years. The first estimate was for 1.3% annualized growth in Q2. The consensus is for a downward revision to 1.1% annualized real GDP growth. This would make real, pre-manipulation GDP even lower. I'd previously calculated the 1st 6-month GDP for 2011 at -1.64%, using the originally posted GDP for 4th quarter of 2010. Here are the previous & current numbers, from my July 31, 2011 post: [/b][/url] posted for 4th quarter 2010 (prior to the latest revisions) was: $13.380 Trillion. (in 2005 dollars) [see Table 3] The current GDP number for the 2nd quarter is: $13.270 Trillion. (in 2005 dollars) [see Table 3A] That's a DECLINE in GDP. More specifically, it's an annualized 6-month decline of -1.64%. In summary, without adjustment manipulation, our 2011 GDP has declined at a -1.64% rate. [/ul] A reduction of the currently posted, highly-manipulated Q2 GDP of 1.3% to 1.2% would worsen the real GDP decline from -1.64% to -1.84%. It's tempting to say this confirms a double-dip recession. But the truth is, the recession that started in 2008 never ended. There's been no "double-dip" because there was never any real uptick, other than what the Government concocted on paper through statistical manipulation and self-serving revisions.
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Post by jeffolie on Aug 24, 2011 18:01:16 GMT -6
Ben, the FED important statement Aug 26th (in Ben's speech in Jackson Hole)... QE3 or some type of commitment that supports banks including European banks ... could be line of credit to ECB to buy bonds as in 'swaps' of $Trillion Jesse's blog wrote it better than me and means essentially the same: '.... Those wild and crazy free market capitalists and Wall Street welfare queens want another central bank handout, and might toss a tantrum if they don't get it. I don't expect Ben to actually DO anything this week, but he might drop some hints about playing games with the longer end of the curve.
If he doesn't do or say anything, the markets will test his resolve, next week at the latest.
The dissenting governors are prats, so Ben is really in a tough spot with few allies. His biggest problem is the Congress, the economic luddites on the right and libertines on the left, and of course the spinelessly serpentine Obama, but he can only do little about them.
He might have the sack to call their bluffs and let the markets tank, standing on principle, but it is not in the nature of the Fed to do anything like that if it threatens the banking system. Bankers have a bias to propping things up, far beyond the point of hope...." =================================================== 24 August 2011 Gold Daily and Silver Weekly Charts - Luddites to the Right and Libertines on the Left Well, it looks like an option expiration week to me. I pulled my 'defensive positions' in the metals today (short positions), and came out of 'flat' to stick a toe into the gold and silver markets in terms of both metals and a couple of miners that looked rather oversold intraday. As a reminder, tomorrow is options expiration on the Comex. You should be able to spot the support on the chart. That *might* hold, but we may not have a bottom in yet. A lot of it is going to depend on what Benny has to say on Friday. I have not shorted stocks yet, although the temptation is on the table. Maybe tomorrow ahead of the Fed, once I see how the metals act in expiry. I was performing useful, real world activities for much of the day. Those wild and crazy free market capitalists and Wall Street welfare queens want another central bank handout, and might toss a tantrum if they don't get it. I don't expect Ben to actually DO anything this week, but he might drop some hints about playing games with the longer end of the curve. If he doesn't do or say anything, the markets will test his resolve, next week at the latest. The dissenting governors are prats, so Ben is really in a tough spot with few allies. His biggest problem is the Congress, the economic luddites on the right and libertines on the left, and of course the spinelessly serpentine Obama, but he can only do little about them. He might have the sack to call their bluffs and let the markets tank, standing on principle, but it is not in the nature of the Fed to do anything like that if it threatens the banking system. Bankers have a bias to propping things up, far beyond the point of hope. The blatant and heavy handed bear raid in the metals, although a source of some profits and very much anticipated here, still makes one want to gag at its arrogant carelessness and cheap obviousness. jessescrossroadscafe.blogspot.co ... ts_24.html
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Post by jeffolie on Aug 25, 2011 10:44:30 GMT -6
IMHO, Ben of the FED need NOT do much to save the banks tomorrow because: ".... France's stock market regulator on Thursday extended a ban on taking short positions on French financial firms until Nov. 11 at the latest. The ban, which was imposed earlier this month, was set to expire on Friday. In a statement, the Autorite des Marches Financiers said it would continue to closely monitor markets and developments. The regulator said it would assess the possibility of lifting the ban before the end of September. "The aim is to lift the ban as soon as market conditions allow it and, to the extent possible, in a coordinated way," the AMF said. Spain and Italy also announced they would extend short-selling bans imposed last week until Sept. 30, while Belgium said it would lift an indefinite ban only when market conditions allow, Dow Jones Newswires report... www.marketwatch.com/story/europe-governments-extends-short-selling-bans-2011-08-25?link=MW_home_latest_news
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Post by unlawflcombatnt on Aug 25, 2011 11:34:35 GMT -6
Corporate Welfare, French style.
Protect banks at all costs, to hell with the People.
We're rapidly moving toward a world-wide Global Corporatocracy/Bankrotocracy
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